Princetontrader Futures Trading Education Charts of The Day December 13, 2016

The S&P Futures reaction high was mentioned as an opportunity for bears yesterday. Bears put together a decent day but were unable to finish off the Bulls with a final leg down. The byproduct of that failure was a choppy afternoon that gradually led to a grind high into the close. That grind continued during last nights Globex session. We are currently testing the lower high from yesterday (2259 area). Bears will want to hold there to begin to establish 2259/60 as multi day resistance. Bears can build upon that. Bulls want to keep making higher lows and the touch the upper band to continue that band ride on the way to another new all-time high. Bulls have the clear advantage until Bears convert key areas of price.

Daily Chart:

Hourly Chart: